CITY PROPERTY MARKET

Poverty Bay Herald, Volume LIV, Issue 16827, 14 December 1928, Page 7

CITY PROPERTY MARKET

RETURNING CONFIDENCE MONEY AWAITING PLACEMENT (Special to Hip Herald ' CHRISTCHURCH, this day. Judging bv the recent movements in the eitv property market the investing public in Christchurch is showing signs of returning confidence in the stability of this class of investments and has dropped some of that cautious attitude that marked its operations not many months ago. The indications, too, point, to the fact that there is quite a fair amount of free money about awaiting placement in this direction. According to the principal of one city firm of estate agents, more city property deals have been negotiated of iate than for some considerable time. This was the result, he, considered, of an increase in the population and the surplus of big money available at the present time. People with foresight Were now investing a lot of their capital in city property, instead of in mortgages and other forms of security. He did not anticipate anything in the way of a boom, but he thought there were more prosperous times ahead. Tire shortage of money during the past few years had been responsible for the. lack of interest that had been shown in property. Discussing the value of Christchurch property as compared with that in the other main centres in New Zealand, the speaker said that here it was much lower than anywhere else. In addition to the. deals recently recorded in Colombo, High, and Hereford Streets, two valuable properties also have rfianced hands in Armagh street, which, according to report, is shortly to undergo a big change.